Military-run mobile network operator Viettel has been ranked the most valuable brand in Vietnam this year, followed by dairy firm Vinamilk and telecommunications company VNPT, according to a local trade promotion agency.

The Vietnam Trade Promotion Agency, under the Ministry of Industry and Trade, and Brand Finance, an independent branded business valuation consultancy, announced the latter's own rankings at a forum on Monday morning.

Viettel led the list of Vietnam’s Top 50 Brands for 2017, with its brand valued at US$2.5 billion.

Vinamilk, last year’s front-runner, placed second, valued at $1.4 billion.

Vietnam Posts and Telecommunications Group (VNPT) came third with $726 million worth of brand value, followed by Vinhomes, the real estate subsidiary of conglomerate Vingroup, at $604 million, and the Saigon Beer-Alcohol-Beverage Corporation (Sabeco) at $598 million.

According to Samir Dixit, managing director of Brand Finance Asia Pacific, the total value of the top 50 brands this year rose 32 percent compared to 2016.

Among the 50, the top10 accounted for 68 percent of total brand value.

Some 11 new brands made it to the top 50 this year, Dixit added.

Brand valuation plays an important role when a business is listed on the stock market or carries out mergers and acquisitions (M&A), the managing director stated.

There are still limitations to this process in Vietnam, causing M&A transactions here to be less frequent than in other nations in the region, he added.

Agreeing with the opinion, Dang Xuan Minh, co-founder of the Vietnam M&A Forum, said that brand valuation in the Southeast Asian country is often done subjectively.

He believes that the state should promulgate a specific legal basis for the process.

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